EIB agrees Â£168m backing for Lincs wind farm
The European Investment Bank has agreed to provide £168m for a new connection between the Lincolnshire offshore wind farm and the UK national transmission network.
The approximately 100 km connection, between high-voltage transmission connections on the mainland and the 270MW Lincolnshire wind farm, has been tendered under a dedicated regulatory regime for offshore transmission networks by regulator Ofgem.
"Offshore wind will play a significant role as part of the UK's energy mix over the coming decades and the European Investment Bank is committed to supporting long-term investment in energy infrastructure that both enhances production of electricity from renewable sources and connects renewable energy into the national network," said Jonathan Taylor, European Investment Bank vice president.
The transmission connection to the Lincolnshire wind farm, 8 km off the Skegness coast, will include one offshore substation and connect to the national transmission network at an onshore substation at Walpole in Norfolk.
The wind farm will have 75 turbines which are expected to produce enough renewable energy for more than 200,000 houses.
Assets for the offshore transmission connection have been developed by Lincs Wind Farm Ltd, a joint venture between Centrica, Dong Energy and Siemens Project Ventures.